Between January and October 2026, 81 crypto projects announced they were shutting down, according to reports. The list includes well-known names across several sectors:
· Exchanges: BitMEX, BitMart, CoinEx, AscendEX
· Chains & L2s: Blast, Abstract, Polygon zkEVM, Loopring, Sophon
· DeFi: Balancer, Radiant, ZeroLend, Angle, Seamless
· NFTs & wallets: Blur, Foundation, Magic Eden Wallet, Leap Wallet
The reasons cited are largely the same across projects: trading volumes collapsed, airdrop farmers left, and some protocols never recovered from hacks—Balancer and Radiant being notable examples.
April saw the most closures at 16, and the pace has continued since, with Blur, Abstract, and Blast all announcing shutdowns in October alone.
· Exchanges: BitMEX, BitMart, CoinEx, AscendEX
· Chains & L2s: Blast, Abstract, Polygon zkEVM, Loopring, Sophon
· DeFi: Balancer, Radiant, ZeroLend, Angle, Seamless
· NFTs & wallets: Blur, Foundation, Magic Eden Wallet, Leap Wallet
The reasons cited are largely the same across projects: trading volumes collapsed, airdrop farmers left, and some protocols never recovered from hacks—Balancer and Radiant being notable examples.
April saw the most closures at 16, and the pace has continued since, with Blur, Abstract, and Blast all announcing shutdowns in October alone.